Out of an estimated revenue of GH¢83,3 million, the TMA was able to accrue only GH¢16. 7 million representing 20.3 per cent of the target. 

Mr Felix Mensah Nii Anang-La, Tema Metropolitan Chief Executive, revealed this in a situational report during the Assembly’s second ordinary meeting.

Mr Anang-La stated that “the Assembly missed out on meeting its half-year revenue targets and this consequently affected expenditure on development projects”.

He added that the Internally Generated Fund (IGF) performance of his outfit at the end of June, 2019 stood at GH¢10,432,183.96 representing 32 per cent of the projected GH¢32,256,469.76.

He indicated that a critical look at the half-year financial performance demanded a review of strategy for the second half adding however that some areas of the revenue showed trends of improvement.

Such areas, he noted, included fines, which he announced recorded 2,935 per cent increase over the figure for the same period in 2018.

According to him, GH¢50,479.00 was received as fines as compared to GH¢1,720.00, an achievement he attributed to the introduction of towing and clamping services in the Metropolis in partnership with the Road Safety Management Services Limited.

He noted that the Assembly depended heavily on its IGF as the actual grant component of the revenue projections continued to decline and therefore pleaded with residents and businesses to honour their bills and rates.

Mr Anang-La  directed the budget and finance team of the Assembly to engage more actively with rate payers to understand their challenges and advise his outfit accordingly before the preparation of the 2020 fee-fixing resolution.

He commended the efforts of the Finance team for prudently managing the finances of the Assembly for the half year despite the high demand on its finances, saying a total of GH¢ 16,047,553.47 representing 19.26 per cent of the GH¢83,317,012.47 budgeted expenditure was used adding that it was spent on compensation of employees, goods and services and asset capital expenditure.